Updated Jun 29, 2019

Trump declares China trade truce

Photo: Tomohiro Ohsumi/Getty Images

President Trump at the G20 summit today said he'll allow U.S. companies to sell to Chinese tech giant Huawei and won't put new tariffs on China for the "time being."

Why it matters: Trump and President Xi Jinping's G20 meeting is only a "temporary cease-fire" in the U.S.-China trade war, but ratcheting down trade tensions with China removes "an immediate threat looming over the global economy even as a lasting peace remains elusive," Bloomberg reports.

  • Trump said the U.S. will give China "lists" of farm products to buy and China has agreed to resume agricultural purchases, per the Washington Post.

Recap: The U.S. imposed 25% import taxes on $250 billion of Chinese goods — China countered with tariffs on $110 billion in American products, with a focus on agricultural goods, the AP reports.

The bottom line: Saturday's cease-fire could "give negotiators another chance to forge a permanent accord governing the vast flow of goods and services between the two nations," the NYT reports.

Go deeper: Trump suggests farmers will benefit from trade tariffs on China

Go deeper

Coronavirus dashboard

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  1. Global: Total confirmed cases as of 5 a.m. ET: 1,605,548 — Total deaths: 95,758 — Total recoveries: 355,983Map.
  2. U.S.: Total confirmed cases as of 5 a.m. ET: 466,299 — Total deaths: 16,686 — Total recoveries: 26,522Map.
  3. 2020 latest: Top conservative leaders are concerned the Trump administration isn't addressing the virus' long-term economic impact.
  4. Public health latest: U.S. has expelled thousands of migrants under a CDC public health orderDr. Anthony Fauci said social distancing could reduce the U.S. death toll to 60,000.
  5. Business latest: After another 6.6 million jobless claims, here's how to understand the scale of American job decimation.
  6. 1 "SNL" thing: "Saturday Night Live" will return this weekend in a remotely produced episode.
  7. What should I do? Hydroxychloroquine questions answeredPets, moving and personal healthAnswers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
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Automakers lay out back-to-work playbook for coronavirus pandemic

Magna employees in China adapting to a new normal at work. Images courtesy of Magna

The auto industry is sharing detailed return-to-work guidelines on how to shield employees from the coronavirus as it prepares to reopen its own factories in the coming weeks.

Why it matters: We might not shake hands again, but sooner or later, most of us will return to our jobs, whether in a factory, office or public venue within close proximity of others. Reestablishing an environment where employees feel comfortable and can remain healthy will be a daunting challenge for every employer.

Top Trump ally sounds 2020 election alarm over coronavirus response

Photo: Jim Watson/AFP via Getty Images

There is growing concern among top conservative leaders that the Trump administration isn't addressing the long-term economic impact of the coronavirus, several sources tell Axios. One top adviser said if the recovery is bungled it could cost President Trump the election.

What we're hearing: "The next 4-8 weeks is really going to decide whether Trump gets reelected," Stephen Moore, Trump's former nominee for the Federal Reserve board, told Axios. If the administration mishandles its economic recovery efforts, he said, Trump is "in big trouble."